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Altius Renewable Royalties Announces Closing of Previously Announced CDN$35 Million Bought Deal Financing
ST. JOHN’S, Newfoundland and Labrador / Dec 08, 2022 / Business Wire / Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Corporation”, or
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Dec 08, 2022 / Business Wire / Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Corporation”, or the “Company”) is pleased to announce that today it has closed its previously announced bought deal public offering (the “Offering”) of common shares of the Company (the “Shares”). A total of 3,900,000 Shares were issued at a price of C$9.00 per Share (the “Offering Price”) for aggregate gross proceeds of C$35,100,000. The Offering was made through a syndicate of underwriters led by TD Securities Inc. and Cormark Securities Inc. (the “Joint Bookrunners”), including National Bank Financial Inc., Peters & Co. Limited, Raymond James Ltd., Scotiabank, CIBC Capital Markets and Laurentian Bank Securities Inc. (collectively, with the Joint Bookrunners, the “Underwriters”). The Company granted the Underwriters an over-allotment option, exercisable in whole or in part at any time up to 30 days after the closing of the Offering, to purchase up to an additional 585,000 Shares at the Offering Price, for additional gross proceeds to the Company of up to C$5,265,000. The Company intends to use the net proceeds from the Offering to fund its 50% of the acquisition price for Great Bay Renewables’ Titan Solar royalty investment and for general corporate purposes. The Shares have been conditionally approved for listing on the Toronto Stock Exchange (“TSX”). The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the final approval of the TSX. The securities issued under the Offering were offered by way of a prospectus supplement dated December 5, 2022 (the “Prospectus Supplement”) to the Company's base shelf prospectus dated March 1, 2022, that was filed in each of the provinces and territories of Canada. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Altius Minerals Early Warning Disclosure Altius Minerals ...